Looks like it is hard for market to take out last lower high. For the last 6 trading day , there is only one green day for Dow, the rest are red. We did not see this when the market rally for the last few months.
The last similar pattern occur on June 15, 2009 until July 10, 2009 which was a correction period.
Should be careful to take long position. Either use buy on support strategy or sell on resistance, at least for October month. October month also known as bad month for market historically.
If I see Dow chart, I may guess that Dow will create head and shoulder pattern, but this is just a wild prediction. What do you think ?
As an Option Trader, we can buy call option to play uptrend market and buy put option to play downtrend market.
Best regards
Snip
Posts
No comments:
Post a Comment